When managers of social clubs continue to run our economy, By Uddin Ifeanyi
The spectacle of a senior adviser on economics to the Tinubu government dissing the numbers on the economy issued by the National Bureau of Statistics (NBS) offered far more lessons than the first reactions to the television interview suggests.
By a painstaking choice of how, where, and what it pays for (salaries as against investment in fixed capital growth in the efficient production of public goods, for instance) government spending can boost or impede aggregate domestic demand.
Far more significant, however, is the fact of the connectedness of the different parts of an economy that this cycle points to, and which the special adviser’s blasé treatment of domestic economic statistics seems to have missed.
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